RCS - Arbuthnot Banking - Hardman Research: Clear strategy, value added deal <Origin Href="QuoteRef">ARBB.L</Origin>
RNS Number : 6313SArbuthnot Banking Group PLC22 December 2016Hardman Research:Clearstrategy, value added deal
New group taking shape with strong momentum: In the past week ABG has announced the acquisition of a private-bank loan portfolio and a specialist asset backed finance business (subject to regulatory approval). Prior to these deals we believed ABG had nearly 100m of surplus capital and these deals will utilise 15m of this. ABG is now evolving into a more diversified banking group with both deposit and targeted lending businesses. It is establishing clear momentum across the group. We had expected loan acquisitions and will build the asset-backed deal into our numbers and valuation once the completion of the deal is more certain.
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